Powers of attorney in commercial transactions
Powers of attorney in commercial transactions

The following Commercial practice note provides comprehensive and up to date legal information covering:

  • Powers of attorney in commercial transactions
  • Characteristics of a power of attorney
  • Who can grant powers of attorney
  • Individuals
  • Corporations
  • Who can act as an attorney
  • Revocation of a power of attorney
  • Form of grant of power of attorney
  • Execution by power of attorney

Powers of attorney in commercial transactions

Commercial lawyers will regularly come across situations where third parties are executing documents as an attorney on behalf of another person and may be required to put in place a power of attorney to cover the absence of an authorised signatory or to facilitate the contracting process by delegating authority to enter into contracts to managers or authorised agents. This Practice Note provides practical guidance on how to grant powers of attorney, the different types of power of attorney that can be granted, and when they are likely to be used in commercial transactions.

This Practice Note provides information and guidance in connection with the following:

  1. characteristics of a power of attorney

  2. who can grant powers of attorney

  3. different types of powers of attorney

  4. who can act as an attorney

  5. revocation of a power of attorney

  6. form of grant of power of attorney

  7. execution by an attorney

Characteristics of a power of attorney

A power of attorney is a document that is entered into as a deed under which one party (known as the donor) grants to the other party (known as the donee or attorney) the power to act on behalf of, and in the name of, the donor. The attorney is authorised to act only so far as the terms of the power of attorney allow. This may be in general terms under a general power of attorney or limited to certain acts and for specifically defined purposes.

Powers of attorney

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